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 Housing Starts Continued to Fall in Canada and Québec in April 2013

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Housing Starts Continued to Fall in Canada and Québec in April 2013 - See more at: http://www.fciq.ca/Nouvelles_economiques/Mise_en_chantier_EN.html#sthash.oHktzQO6.dpuf

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), housing starts in Canadian centres with 10,000 or more inhabitants fell by 29 per cent in April 2013 compared to April 2012. In total, there were 15,390 housing starts in Canadian urban centres in April 2013, compared to 21,749 starts in April of last year.

In Québec, after registering decreases of 24 per cent in February and 20 per cent in March, the number of housing starts fell by 40 per cent in April, with a total of 3,179 new constructions.

Most of the province’s Census Metropolitan Areas (CMAs) registered a drop in housing starts compared to April 2012. The Gatineau and Québec City CMAs both registered a 46 per cent decrease, and the Montréal CMA registered a drop of 43 per cent. The Saguenay and Sherbrooke CMAs posted respective decreases of 14 and 18 per cent, while the Trois-Rivières CMA fared better with housing starts remaining relatively stable compared to April of last year.

Preliminary housing start data are published by the Canada Mortgage and Housing Corporation (CMHC) on the sixth working day of every month. The data released by the CMHC account for the number of dwellings for which construction has started during the month in question. Data are issued monthly for the six Census Metropolitan Areas and for urban centres with a population of 50,000 to 99,999 inhabitants (Drummondville, Granby, Saint-Hyacinthe, Shawinigan and Saint-Jean-sur-Richelieu), and they distinguish between single-detached houses and multiple dwelling units (semi-detached or townhouses and apartments). Housing start data for urban centres with 10,000 to 49,999 inhabitants are issued on a quarterly basis.

Housing Starts and the Existing-Home Market in Québec

Housing starts, as an indicator of the residential construction market, provide valuable information on the vitality of the real estate industry in general. However, if the increase in the number of new dwellings is greater than the long-term household formation trend, this situation would lead to an increase in the inventory of new, unsold homes, and could compete with the market of existing homes.

- See more at: http://www.fciq.ca/Nouvelles_economiques/Mise_en_chantier_EN.html#sthash.oHktzQO6.dpuf

 

Housing Starts Continued to Fall in Canada and Québec in April 2013 - See more at: http://www.fciq.ca/Nouvelles_economiques/Mise_en_chantier_EN.html#sthash.oHktzQO6.dpuf

Housing Starts Continued to Fall in Canada and Québec in April 2013

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), housing starts in Canadian centres with 10,000 or more inhabitants fell by 29 per cent in April 2013 compared to April 2012. In total, there were 15,390 housing starts in Canadian urban centres in April 2013, compared to 21,749 starts in April of last year.

In Québec, after registering decreases of 24 per cent in February and 20 per cent in March, the number of housing starts fell by 40 per cent in April, with a total of 3,179 new constructions.

Most of the province’s Census Metropolitan Areas (CMAs) registered a drop in housing starts compared to April 2012. The Gatineau and Québec City CMAs both registered a 46 per cent decrease, and the Montréal CMA registered a drop of 43 per cent. The Saguenay and Sherbrooke CMAs posted respective decreases of 14 and 18 per cent, while the Trois-Rivières CMA fared better with housing starts remaining relatively stable compared to April of last year.

The chart below provides an overview of housing starts in April 2013 in Canada, Québec and the province’s six Census Metropolitan Areas.

- See more at: http://www.fciq.ca/Nouvelles_economiques/Mise_en_chantier_EN.html#sthash.oHktzQO6.dpuf

Housing Starts Continued to Fall in Canada and Québec in April 2013

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), housing starts in Canadian centres with 10,000 or more inhabitants fell by 29 per cent in April 2013 compared to April 2012. In total, there were 15,390 housing starts in Canadian urban centres in April 2013, compared to 21,749 starts in April of last year.

In Québec, after registering decreases of 24 per cent in February and 20 per cent in March, the number of housing starts fell by 40 per cent in April, with a total of 3,179 new constructions.

Most of the province’s Census Metropolitan Areas (CMAs) registered a drop in housing starts compared to April 2012. The Gatineau and Québec City CMAs both registered a 46 per cent decrease, and the Montréal CMA registered a drop of 43 per cent. The Saguenay and Sherbrooke CMAs posted respective decreases of 14 and 18 per cent, while the Trois-Rivières CMA fared better with housing starts remaining relatively stable compared to April of last year.

The chart below provides an overview of housing starts in April 2013 in Canada, Québec and the province’s six Census Metropolitan Areas.

- See more at: http://www.fciq.ca/Nouvelles_economiques/Mise_en_chantier_EN.html#sthash.oHktzQO6.dpuf